Tackling Debt
- Paying yourself should always be your priority even if you’re in debt.
- Practice the one more day technique. Hold off on purchasing something and test how much you need it. You’ll feel rewarded when you see yourself saving more by going without certain items.
- Modern-day success is not about earning the most revenue, hiring more employees, and having the biggest office spaces. It is about generating the most profit through the fewest employees with the least expensive office space.
- You cannot add new debt as you pay the old debt off. Pay your smallest debt off first.
115
543 reads
CURATED FROM
IDEAS CURATED BY
The idea is part of this collection:
Learn more about business with this collection
The history of fashion
The impact of fashion on society
The future of the fashion industry
Related collections
Similar ideas to Tackling Debt
Manage your Debt wisely
In case you have a lot of debt to shoulder, start paying off the most expensive one.
The credit card has been regarded as the most expensive form of debt. As soon as your salary gets credited each month, pay off your credit card balances in full. Don’t fall for the lure of paying off the m...
The snowball debt method
With this method, you pay off your debts from the smallest balance to the largest balance, regardless of interest rates.
When you pay the smallest debts first, you start to clear your low debts away very quickly. Doing this feels empowering. Once you've paid off a debt, yo...
How to deal with your debt
Try to transfer your debt onto a zero-interest credit card (also known as a balance-transfer card). It will give you a limited time window where your debt won't accrue interest and allow you to get rid of your debt faster. But ensure you can pay it off within that window, otherwi...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates